RATE Group | Companies race to solve bitcoin’s security problem despite slumping prices
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Companies race to solve bitcoin’s security problem despite slumping prices

13 Sep Companies race to solve bitcoin’s security problem despite slumping prices

Posted at 13:53h in Bitcoin News by

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BitGo is not the only one plowing ahead on custody solutions. Coinbase, Gemini (run by the Winklevoss twins), Ledger and ItBit are also looking to be those trusted safeguards. Japanese bank Nomura announced plans in May to offer crypto custody. Goldman Sachs and Northern Trust are also reportedly exploring offering custodial services.

Sanford C. Bernstein is among the firms arguing that reputable custody is one of the biggest headwinds to institutional adoption of cryptocurrencies. Solving that problem could be one way to make money in the space, according to Bernstein.

“As the crypto-asset class seasons and institutional demand builds, there are a plethora of opportunities for traditional firms to engage in the eco-system,” Bernstein analyst Christian Bolu wrote in a note to clients in August. “These include the provision of custodial and asset…

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